Comerica Bank Has $1.98 Million Stake in SP Plus Co. (NASDAQ:SP)

Comerica Bank trimmed its holdings in SP Plus Co. (NASDAQ:SPGet Rating) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,208 shares of the business services provider’s stock after selling 1,875 shares during the period. Comerica Bank’s holdings in SP Plus were worth $1,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Seelaus Asset Management LLC raised its position in shares of SP Plus by 2.2% in the third quarter. Seelaus Asset Management LLC now owns 18,200 shares of the business services provider’s stock valued at $570,000 after buying an additional 400 shares in the last quarter. Bard Associates Inc. raised its position in SP Plus by 1.6% during the second quarter. Bard Associates Inc. now owns 32,425 shares of the business services provider’s stock valued at $996,000 after purchasing an additional 500 shares in the last quarter. Rothschild & Co. Asset Management US Inc. raised its position in SP Plus by 26.6% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 195,309 shares of the business services provider’s stock valued at $6,000,000 after purchasing an additional 41,026 shares in the last quarter. Lazard Asset Management LLC raised its position in SP Plus by 56.9% during the second quarter. Lazard Asset Management LLC now owns 7,454 shares of the business services provider’s stock valued at $228,000 after purchasing an additional 2,702 shares in the last quarter. Finally, M&T Bank Corp raised its position in SP Plus by 86.1% during the second quarter. M&T Bank Corp now owns 31,958 shares of the business services provider’s stock valued at $982,000 after purchasing an additional 14,789 shares in the last quarter. 98.85% of the stock is currently owned by institutional investors and hedge funds.

SP Plus Stock Performance

NASDAQ SP opened at $35.66 on Friday. The firm’s fifty day moving average price is $34.90 and its two-hundred day moving average price is $33.96. The stock has a market cap of $719.16 million, a PE ratio of 15.44 and a beta of 1.34. SP Plus Co. has a fifty-two week low of $26.11 and a fifty-two week high of $37.52. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.67 and a current ratio of 0.67.

SP Plus (NASDAQ:SPGet Rating) last posted its earnings results on Wednesday, November 2nd. The business services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $207.10 million for the quarter, compared to analysts’ expectations of $194.60 million. SP Plus had a net margin of 3.33% and a return on equity of 24.42%. On average, equities analysts expect that SP Plus Co. will post 2.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robert Toy sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $34.66, for a total value of $173,300.00. Following the sale, the insider now owns 48,355 shares of the company’s stock, valued at $1,675,984.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of SP Plus from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 2nd.

About SP Plus

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SP Plus Corporation provides mobility solutions, parking management, ground transportation, baggage, and other ancillary services in North America. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.

See Also

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Institutional Ownership by Quarter for SP Plus (NASDAQ:SP)

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